ChiniMandi, Mumbai: 03rd Jan 2025
Domestic Market
Domestic prices are continue to trade higher
Sugar prices in major markets were reported to be up by Rs 20-30 per quintal. Ex-mill prices in Maharashtra and Karnataka rose by Rs 20 per quintal, while mills in Uttar Pradesh saw an increase of Rs 30 per quintal. Prices have recovered by Rs 100-120 per quintal from their recent lows, as milers offer new crop (24/25 season) sugar.
S-grade sugar in Kolhapur ranged between Rs 3,410 and 3,450 per quintal, while M-grade sugar in Muzaffarnagar costs Rs 3,830 to 3,890. Agrimandi.live predicts that the price of Kolhapur S-grade sugar will fall between Rs 3,300 and Rs 3,480 per quintal in the near future.
According to data released by the National Federation of Cooperative Sugar Factories Limited (NFCSF), as of December 31, 2024, 493 sugar mills across the country were crushing for the 2024-25 season. A total of 109.6 MMT of sugarcane were crushed, yielding 9.51 MMT of sugar. In comparison, during the same period the previous season, 518 sugar mills crushed 122.99 MMT of sugarcane, yielding 11.28 MMT.
The country’s sugar recovery rate has decreased since the previous season. As of December 31, 2024, the average sugar recovery rate was 8.68%, up from 9.17% the previous season.
Ex-mill Sugar Prices as on Jan, 03 2025 :
|
State |
S/30 [Rates per Quintal] |
M/30 [Rates per Quintal] |
|
Maharashtra |
₹3430 to 3500 |
₹3500 to 3600 |
|
South Karnataka |
₹3635 to 3650 |
₹3700 |
|
Uttar Pradesh |
|
₹3830 to 3890 |
|
Gujarat |
₹3541 to 3581 |
₹3561 to 3641 |
|
Tamil Nadu |
₹3750 to 3900 |
₹3810 to 3975 |
|
Madhya Pradesh |
₹3615 to 3665 |
₹3685 to 3765 |
|
Punjab |
₹3951 to 3971 |
|
|
(All the above rates are excluding GST) |
||
Destination-wise Spot Prices as on Jan, 03 2025 :
|
City |
Grade |
Rate |
|
Delhi |
M/30 |
₹4,084.00 |
|
Kanpur |
M/30 |
₹4,053.00 |
|
Kolhapur |
M/30 |
₹3,717.00 |
|
Kolkata |
M/30 |
₹4,101.50 |
|
Muzaffarnagar |
M/30 |
₹4,047.75 |
|
Ahmedabad |
M/30 |
₹3,885.00 |
|
Bangaluru |
M/30 |
₹3,937.50 |
|
Chennai |
M/30 |
₹4,063.50 |
At the time of writing this update London White Sugar #5 front month contract is trading at $508.20 ton, whereas the New York Sugar #11 front month contract is trading at 19.44 c/lb. The corn futures market trades at 457-2 and the ethanol Chicago trades at 1.67750s
Currency, Commodity & Indian Indices
The rupee traded against the US dollar at 85.799 whereas USD was trading with BRL at 6.2080, Crude WTI traded at $72.98 barrel. Sensex closed 720.60 points down at 79,223.11 whereas Nifty closed 183.90 points higher at 24,004.75
News Round-Up
IIT-BHU researchers explore ethanol production from potato peel waste
IIT-BHU researchers explore ethanol production from potato peel waste
Uttar Pradesh: Shamli sugarcane farmers shifting away from Co-0238 variety
Uttar Pradesh: Shamli sugarcane farmers shifting away from Co-0238 variety
World food price index drops in December, sugar leads decline
World food price index drops in December, sugar leads decline
